Governance & monitoring
Each contracted programme within the Primary Growth Partnership (PGP) is subject to ongoing governance, monitoring, and assurance. This helps ensure the appropriate use of PGP funding and the success of each programme.
5 key elements
Governance, monitoring, and assurance of PGP programmes has 5 key elements:
- Monitoring of progress
- Programme governance and risk management
- Financial management and auditing
- Programme progress reviews
- Programme evaluation
Co-investors are also accountable to their respective governance body or bodies, like boards of directors. They may also have other reporting requirements, like to the New Zealand Stock Exchange for listed companies.
MPI has a dedicated PGP directorate that administers and oversees the PGP. For PGP programmes, this includes reviewing quarterly reports and annual plans, monitoring overall programme progress, and representing MPI on programme steering groups.
The Investment Advisory Panel (IAP) has a monitoring and evaluation role for contracted PGP programmes. This involves:
- reviewing programme quarterly reports and annual plans
- receiving presentations on the progress of programmes, as required
- providing advice to MPI as appropriate.
Each programme provides quarterly reports, which are monitored by MPI and the IAP. Summaries of the quarterly reports are published on each PGP programme's page.
Each programme also does an annual review of its activities and budgets and provides annual plan updates, which are reviewed by MPI and the IAP.
Find out more
Each PGP programme must have a programme steering group, which meets at least quarterly to review progress and provide oversight of the programme. Members include representatives from the investing company or companies and MPI (at least 2 members), and may include an independent chairperson.
Programmes actively manage and monitor risks through risk management plans and schedules. The steering groups review these regularly.
Industry co-investors must keep appropriate financial records and make them available for audit on request at any time. The overall administration of PGP is also subject to MPI's regular internal audit programme.
Each programme is financially audited at least once during its operation, either by MPI's audit function or external auditors. Copies of audit reports are available on the audited programmes' page to download.
Payments to partners
Before PGP funds are paid out to a programme, invoices are verified to ensure the work has been completed and is consistent with the programme's planned activities.
Programmes must have at least one full external, independent progress review during their lifetime to assess progress towards the programme's goals. Summary reports of the review findings are available on the relevant programme pages when reviews are completed.
The PGP portfolio has an overall outcomes model that outlines the outcomes and benefits the PGP is aiming to help achieve. PGP programmes are also required to develop an outcomes model and appropriate measures to enable evaluation. These are available on the PGP programme pages.
At the end of each PGP programme it is evaluated based on the programme's outcomes model. Comprehensive summaries of evaluations are available to download on the relevant programme's page.
Download the overall PGP outcomes model [PDF, 75 KB]
Alignment with other Crown funding
MPI, NZ Trade and Enterprise, and the Ministry of Business Innovation and Enterprise share information about aligned projects funded by each organisation, or when each organisation receives funding requests for aligned projects.